HTC sells smartphone manufacturing plant, doubles-down on Vive

HTC is doubling-down on its hope that virtual reality is the future of entertainment, announcing that it has sold its Shanghai-based smartphone and tablet manufacturing facility in a deal valued at £73.4 million.

Now, HTC is distancing itself still further from its loss-making smartphone business. The company has announced the sale of its Shanghai manufacturing plant to Xingbao Information Technology for £73.4 million. Totalling an impressive 115km² plus an additional 71m² of land, the facility had previously been used to build HTC's smartphone and tablet products. According to HTC's financial statement to investors, it expects to make a £17.24 million net profit on the deal.

HTC has not yet stated how the sale will affect its future plans in the smartphone and tablet markets, but having rid itself of in-house manufacturing it's likely the company will be considerably scaling back its efforts in the market - leaving Vive as its primary focus for the future.